Rietumu Bank

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The Rietumu Bank is a Latvian commercial bank that was founded in the 1992nd It is one of the largest private banks in the Baltic States and specializes in wealthy individual or corporate customers. The seat of the bank is in Riga .

activities

The bank is represented all over the world and offers a wide range of financial services to clients with companies in Europe, the Baltic States, Belarus, Russia, Ukraine and other regions. In addition to traditional banking services such as international payments, luxury credit cards or credit distributions, the bank offers advice, brokerage , asset management and help with obtaining a residence permit in Latvia.

In addition to the headquarters in Riga, Rietumu Bank has branches in Moscow, Kiev, Minks, Almaty and Bucharest. The processing of banking transactions from home is made possible by online banking and the iPhone app. These services are offered in Latvian, Russian, English, French, German and Chinese.

Achievements and Awards

2004

  • The international financial magazine, Global Finance, has named Rietumu Bank as the best bank in Latvia in the field of currency operations

2009

  • Rietumu Bank wins the Russian Wealth Award. It was named the best bank in the Baltic States offering private banking and wealth management for Russian clients
  • Banker magazine again places Rietumu Bank in second place in the rating for the fastest developing banks in Central Europe
  • The business magazine "Business New Magazine" carried out research on the "New Europe" banks in 2009-2010 and came to the conclusion that Rietumu Bank is the best bank in Latvia

2015

  • The bank publishes important and modern hi-tech products: an online banking app for the Apple Watch is introduced, other apps have been updated.
  • Rietumu Bank is the first in the Baltic States to receive the PCI-DSS certificate. A program to support start-ups has been developed.
  • The bank became a partner of TechHub Riga and the “Silicon Valley comes to theBaltic” forum and the competition for the best startup.
  • The Rietumu Bank shares start very successfully.
  • The bank became “SPEAR'S Russia Wealth Management Awards” winner for the fifth time.
  • The bank helped finance many important cultural events in Latvia, such as B. “Rendez-vous with Laima Vaikule”, the World Jazz Festival or the exhibition “Rerikh in Latvia”.
  • The bank became a partner of one of the most important modern art events, the Moscow International Biennale.

2016

  • The second international competition of the Rietumu FinTech Challenge from the TechHub Riga Academy takes place in Riga. The Latvian company Nordigen wins. As part of the collaboration between Rietumu Bank and TechHub Riga, two meetings will be organized to develop the ecosystem in Latvia.
  • Rietumu Bank is again participating in the XIII International Conference “Black Sea Grain” in Kiev.
  • Rietumu Bank supports the ReputationTime Conference and many other important events.
  • Through JSON API-Rietumu Broker Link, Rietumu Bank becomes the first bank on the market to offer automatic and structured access to investment portfolios. Features of this are to get information about positions, bank accounts and other financial instruments.
  • The Rietumu Asset Management (RAM) company is releasing two new investment products: "Industry 4.0" and "Target Maturity Bonds." These unique portfolios make it easy to invest in future technologies and reliable bonds.
  • Through the IRietumu online banking, it is now possible to trade with the main American stock exchanges. (NASDAQ and NYSE)
  • Bonds of JSC “Rietumu Banka” are now listed on the Riga Stock Exchange.

Sanctions

2017

  • The Finance and Capital Markets Committee confirmed that Rietumu would have to pay a fine of 1.5 million euros for failing to comply with the anti-money laundering regulations and the fight against the financing of terrorism.
  • After the bank was sentenced to a fine of 80 million euros in a French court for tax evasion and money laundering schemes, Rietumu Bank appealed.

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